Posted on March 5, 2009 by Vinay
We have written about microinsurance before, including SKS’s Vikram Akula’s decision to develop a product for his customers. Now, Bajaj-Allianz and CARE India will be developing a product of their own. In an interesting partnership between the charity and a commercial company, this venture will aim to help individuals substantially improve livelihoods through the safety net insurance can provide. On Allianz’s site there is a great interview with RN Mohanty, Chief Operating Officer, CARE India, speaking to this new partnership. Here is an excerpt:
The biggest challenge was definitely educating people that risk protection is an important part of their lives. We do this because we want to inculcate a culture of savings with the community, not just insuring for the time being. The general mindset in rural India is that unless you get something out of it immediately it is not worth investing. If you look at our client list, close to 90 percent are first-time insurers.
The rest of the interview can be read here.
Filed under: CSR, Finance/Credit, Health, Microfinance, NGOs and Non-profits | Tagged: Bajaj Allianz, CARE India, microinsurance, RN Mohanty, SKS, SKS microfinance, Vikram Akula | Leave a comment »
Posted on August 8, 2008 by Vinay
The company has given its old black-and-white passbook a colourful facelift, using glossy paper, at once reaching out to its depositors and opening up a new revenue stream — through advertisements.
And with that simple modification, SKS Microfinance’s leader Vikram Akula has managed to address multiple problems at once. First the addition of color and gloss sends a strong signal that even the poorest people deserve high quality goods and services. And second, it provides an efficient means to have rural advertising. [Source: Sify.com]
Filed under: Finance/Credit, Microfinance | Tagged: advertising, color, passbooks, SKS, Vikram Akula | Leave a comment »
Posted on June 18, 2008 by Santhosh
The Economic Times reports that SKS is planning to infuse Rs. 130 crores additional equity into the company to support its aggressive expansion plans [via Microcapital]. Here is the quote from the story:
“Our investors will infuse Rs 130 crore later this year on a pro-rata basis. We may plan to induct a new investor since we’ll be needing more capital next year and it cannot be generated internally. At this stage, it is not clear how much stake we will offload. We will also not exclude the possibility of a public issue,” Vikram Akula, founder and CEO, SKS Microfinance told ET
If SKS goes public, it will become the first Indian microfinance lender to do so.
Note: One of the TC-I editors had previously discussed the implications of SKS going public in this popular op-ed piece.
Filed under: Microfinance | Tagged: ET, IPO, SKS | Leave a comment »
Posted on April 17, 2008 by Santhosh
- Microfinance: SKS Microfinance is getting serious about microinsurance, by partnering with Bajaj Allianz to provide coverage to its members. Also, ACCESS Development Services will be providing intensive capacity building support to MFIs in India, and access to loans from European cjompanies. The project is partially funded by the European commission [both stories via Microcapital]
- Healthcare: iGovernment reports that Government of India has approved Mobile Medical Units (MMUs) – one per each district, in order to expand access to health-care in rural areas. Also, Marginal Revolution highlights that estimated ratio of real doctors to fake doctors practicing medicine in Delhi – 1:1
- Technology: Pune based company called Remote Data Exchange has developed a device called ‘Jai Kisan’, using which farmers can remotely control motor pumps using mobile phones. Its just unbelievable you can do with a mobile phone these days (even eradicate Poverty!)
Filed under: Agriculture, Finance/Credit, Government, Health, Microfinance, Technology | Tagged: Access, iGovernment, Jai Kisan, Marginal Revolution, Mobile Medical Units, SKS | Leave a comment »